John Bean Technologies Corp. (NYSE:JBT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “JOHN BEAN TECHNOLOGIES CORPORATION is a leading global solutions provider to the food processing and air transportation industries. The Company designs, manufactures, tests and services technologically sophisticated systems and products for regional and multi-national industrial food processing customers through its JBT FoodTech segment and for domestic and international air transportation customers through its JBT AeroTech segments. “
Separately, BB&T Corp. assumed coverage on John Bean Technologies Corp. in a research note on Friday, June 17th. They issued a “buy” rating and a $75.00 price target on the stock.
Shares of John Bean Technologies Corp. (NYSE:JBT) opened at 69.02 on Wednesday. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 35.89 and a beta of 1.37. The stock’s 50 day moving average price is $68.11 and its 200 day moving average price is $61.91. John Bean Technologies Corp. has a 12 month low of $36.64 and a 12 month high of $71.00.
John Bean Technologies Corp. (NYSE:JBT) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.11. The company had revenue of $328.80 million for the quarter, compared to analysts’ expectations of $304.19 million. John Bean Technologies Corp. had a return on equity of 47.47% and a net margin of 4.70%. The firm’s revenue for the quarter was up 29.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 earnings per share. Analysts expect that John Bean Technologies Corp. will post $2.33 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.58%. This is an increase from John Bean Technologies Corp.’s previous quarterly dividend of $0.09. The ex-dividend date was Wednesday, August 31st. John Bean Technologies Corp.’s payout ratio is 20.83%.
In other John Bean Technologies Corp. news, EVP Steven R. Smith sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $66.50, for a total value of $199,500.00. Following the sale, the executive vice president now directly owns 64,448 shares of the company’s stock, valued at $4,285,792. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.45% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in John Bean Technologies Corp. by 135.1% in the first quarter. BlackRock Inc. now owns 1,897 shares of the company’s stock valued at $107,000 after buying an additional 1,090 shares during the period. BlackRock Japan Co. Ltd increased its stake in John Bean Technologies Corp. by 1.7% in the second quarter. BlackRock Japan Co. Ltd now owns 1,787 shares of the company’s stock valued at $109,000 after buying an additional 30 shares during the period. KBC Group NV bought a new stake in John Bean Technologies Corp. during the second quarter valued at approximately $159,000. Quantbot Technologies LP increased its stake in John Bean Technologies Corp. by 156.7% in the second quarter. Quantbot Technologies LP now owns 3,065 shares of the company’s stock valued at $187,000 after buying an additional 1,871 shares during the period. Finally, Capital Fund Management S.A. bought a new stake in John Bean Technologies Corp. during the second quarter valued at approximately $208,000. 99.02% of the stock is currently owned by institutional investors and hedge funds.
About John Bean Technologies Corp.
John Bean Technologies Corporation (JBT) is a technology solutions provider to the segments of the food processing and air transportation industries. The Company designs, manufactures, tests and services technological systems and products. It operates through two segments. The JBT FoodTech segment designs, manufactures services and food processing systems used for fruit juice production, frozen food production, in-container food production and convenience food preparation, among others by the food industry.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for John Bean Technologies Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for John Bean Technologies Corp. and related companies with MarketBeat.com's FREE daily email newsletter.